J. Alexander’s Corporation posted average weekly same store sales per restaurant of $93,700 in the second quarter of 2012, an increase from $89,900 in the second quarter of 2011. The Company’s average weekly sales per restaurant for the second quarters of 2012 and 2011 were the same as the same store averages because all restaurants are currently in the same store base.Beef prices paid by the Company during the quarter increased by approximately 11% compared to the second quarter in prior year. However, the effect of menu price increases and lower prices paid for certain other food commodities, combined with other actions by the Company to lower food costs, more than offset the effect of the higher beef prices. Cost of sales decreased to 31.6% of net sales for the second quarter of 2012 from 33.2% of net sales in the corresponding quarter of the previous year.
J. Alexander’s Corporation Reports Results For Second Quarter And First Half Of 2012 Fiscal Year
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